Casella Waste Systems Inc. (NASDAQ:CWST) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, May 9th. The brokerage presently has a $17.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target points to a potential upside of 22.66% from the company’s current price.
According to Zacks, “Casella Waste Systems, Inc. is a regional, integrated solid waste services company that provides collection, transfer, disposal and recycling services, generates steam and manufactures finished products utilizing recyclable materials primarily throughout the eastern portion of the United States and parts of Canada. The Company also markets recyclable metals, aluminum, plastics, paper and corrugated cardboard all processed at its facilities and recyclables purchased from third parties. “
Separately, Wedbush reaffirmed a “neutral” rating and set a $13.00 price target (up from $11.00) on shares of Casella Waste Systems in a research report on Friday, March 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $12.75.
Shares of Casella Waste Systems (NASDAQ:CWST) traded down 0.87% during mid-day trading on Tuesday, reaching $13.74. The company had a trading volume of 191,756 shares. Casella Waste Systems has a 52-week low of $6.64 and a 52-week high of $15.85. The stock has a market capitalization of $575.43 million, a P/E ratio of 1056.92 and a beta of 0.83. The company’s 50-day moving average is $14.36 and its 200 day moving average is $12.81.
Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. Casella Waste Systems had a negative net margin of 0.34% and a negative return on equity of 8.76%. The business had revenue of $133.80 million for the quarter, compared to analyst estimates of $128.33 million. During the same period last year, the firm earned ($0.19) earnings per share. Casella Waste Systems’s revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts anticipate that Casella Waste Systems will post $0.53 EPS for the current fiscal year.
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In related news, CEO John W. Casella sold 14,000 shares of Casella Waste Systems stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $12.58, for a total transaction of $176,120.00. Following the sale, the chief executive officer now directly owns 529,729 shares in the company, valued at approximately $6,663,990.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John W. Casella sold 21,447 shares of Casella Waste Systems stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $12.80, for a total transaction of $274,521.60. Following the sale, the chief executive officer now owns 515,729 shares in the company, valued at $6,601,331.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,024 shares of company stock worth $1,015,893. 11.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CWST. Raymond James Financial Services Advisors Inc. purchased a new position in Casella Waste Systems during the first quarter valued at about $144,000. Teza Capital Management LLC bought a new stake in Casella Waste Systems during the first quarter valued at $157,000. Karp Capital Management Corp bought a new stake in Casella Waste Systems during the first quarter valued at $163,000. Alliancebernstein L.P. bought a new stake in Casella Waste Systems during the first quarter valued at $164,000. Finally, Globeflex Capital L P raised its stake in Casella Waste Systems by 17,910.4% in the first quarter. Globeflex Capital L P now owns 12,067 shares of the industrial products company’s stock valued at $170,000 after buying an additional 12,000 shares in the last quarter. Hedge funds and other institutional investors own 72.57% of the company’s stock.
About Casella Waste Systems
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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